Bulgaria: new draft Concessions Act published

20.04.2016

On 19 April 2016 the Bulgarian Council of Ministers published a draft for the new Concessions Act (the "Draft CA"), which will replace the current framework regulating concessions and PPPs in Bulgaria. The Draft CA comes at a time when several significant concession procedures are to be launched in Bulgaria, including the concession of Sofia Airport, the concession of the Sofia Urban Heating.

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The new law will transpose into Bulgarian legislation the provisions of Directive 2014/23/EU of the European Parliament and of the Council of 26 February 2014 on the award of concession contracts ("Concessions Directive"). This was a good timing for the Government to thoroughly review the current legislative framework and to adapt it to provide more clarity and flexibility on awarding concessions, the concession process, and on the cooperation between the public and the private sectors. The current Concessions Act, which is to be repealed, has been in place since 1 July 2006.